Annuity Archives - Page 11 of 25 - Jerry Golden on Retirement

Annuities: The “bad,” the “good” and the “misunderstood”

March 26, 2018 By Jerry Golden in Annuity Tags: Annuities, Baby Boomers, Go2Income, QLAC, retirement income

For some investors, annuities have an image problem. Read the headlines on the advertisements from a few marketing-focused financial advisors to understand why. They often include words like scary, avoid, and often just plain “bad.”

The problem with this characterization is the total failure to distinguish between the broad categories of annuities and to analyze the features of each. As I said in a recent seminar, you don’t drop your life insurance because you are unhappy with the claim adjuster on your automobile insurance.

Would you rather spend that extra cash or make it last a lifetime?

January 24, 2018 By Jerry Golden in Annuity Tags: Annuities, Baby Boomers, Estate planning, QLAC, retirement income

Save it or spend it? That’s the question to answer when you find extra money.

Our friends at Kiplinger’s Personal Finance magazine headlined its February 2018 issue with great approaches when the figure at hand is $1,000, $10,000 or $100,000. I have some ideas, too.

The best opportunity with money that you unexpectedly discover – either from a windfall or cuts in spending you have achieved – in my view centers on “leverage.”

Leverage can mean different things to different people. It can be financial leverage by borrowing money to buy a property you can’t pay for with cash. Or political leverage when the majority needs the minority to pass legislation.

I like the following definition of leverage: “using something to maximum advantage.” More

The 401(k) reaches 40, and needs work to fully reach its retirement promise

December 7, 2017 By Jerry Golden in Annuity 1 Comment Tags: 401(k), Dependable spendable income, traditional pension

On its 40^th anniversary, let us celebrate the 401(k). And then let’s get to work solving the problems left unresolved a generation ago.

The 401(k) has enabled millions of everyday workers to put away substantial sums for retirement, do it conveniently and get some tax savings. Without this mechanism and without the discipline of regular savings, future retirees might be left with just Social Security to rely on.

As you have probably heard, about forty years ago corporations that experienced the rising and fluctuating cost of traditional pensions stopped offering this lifelong, guaranteed source of retirement income. Instead, employees were steered toward the 401(k), where they could save pre-tax dollars for use when they stopped working.

9 retirement planning trends that make us thankful

November 21, 2017 By Jerry Golden in Annuity, Miscellaneous Tags: 401(k), Annuities, Guaranteed Income, QLAC, Retirement planning trends, Social Security, Thanksgiving

As much as we look forward to the gathering around Thanksgiving, preparations for many of us include ticking off a mental list of what we cannot talk about for fear of igniting a feud in-between second helpings and dessert.

In the spirit of the holiday, I present a list of topics (about retirement of course) that fall into three categories:

Safe for dinner conversation.
Discuss only when Uncle Bob is out of the room.
Danger! Politics!

Whether you play it safe or plan to leave before the pie is served, here are nine retirement planning trends for which I am thankful this season. Please don’t blame me if some relatives at the table feel differently. More

6 Retirement Misconceptions

July 18, 2017 By Jerry Golden in Annuity Tags: Asset allocation, Baby Boomers, Guaranteed Income, retirement income, reverse mortgage, Social Security, taxes

In an effort to keep things simple for people who are nervous about retirement – whether they are 42 or 62 – conventional planning strategies focus on how to save and invest money. If you save X amount and invest wisely you will live happily for N years. That is how retirement misconceptions begin.

Saving is good but hard. Smart investing is good – and also quite difficult if the appropriate strategy is not deployed.

Hoping for the best as you draw down that savings to meet your budget in retirement – while absorbing the ups and downs of the stock market, inflation, medical and caregiver expenses – virtually ensures that you will remain nervous about your financial health up to and through retirement. More